Asos PLC said it raised £75mln following a successful placing to support its Driving Change agenda and balance sheet.
A total of 17.9mln shares at a price of 418.1p per share were issued, a slight discount on Thursday’s close of 422p.
In a separate announcement, the online fashion retailer also confirmed a new long-term £275mln financing facility to further strengthen its balance sheet.
The new facility, split into a £200mln senior term loan and a £75mln super senior revolving facility, replaces the group's £350mln revolving credit facility, which was due to expire in November 2024.
Asos said the new capital structure provides “increased flexibility against a challenging macro-economic backdrop”.
Earlier this month, the retailer announced it had slipped to a first-half loss of £84.7mln.
The City was alarmed by Asos’ cash position and outflow. Some £263mln left the business in the first quarter, which sparked questions that the firm would need to turn cap in hand to the market, a move it made just two weeks later.